Crypto Contract Liquidations Hit $1.67 Billion, Mostly Long Positions

Crypto markets recorded $1.667 billion in contract liquidations over a 24-hour period, with long positions accounting for $1.428 billion of the total and bearing most of the forced exits. Short positions made up $238 million. Long-side liquidations were roughly six times the short-side amount, concentrating the reported closures among traders positioned for prices to rise. Bitcoin (BTC) recorded $562 million in liquidations, the largest asset total. Ether (ETH) followed at $359 million. Together, the two assets accounted for $921 million, more than half of the marketwide total. The largest individual liquidation was an $11.4293 million BTCUSDT order on Binance.

Source: TokenPost